Industry Sector: Financials
NEWSWEEK Green Score: 83.6%
Environmental Impact: 87.0%
Environmental Management: 83.4%
Transparency & Disclosure: 69.4%
Munchener Ruckversicherungs AG is a reinsurance and insurance provider. The company founded the Geo Risks Research Department in 1974, and has been studying and planning for the effects of climate change since then. Munich Re launched the Munich Climate Insurance Initiative to help adapt insurance to fit the impacts of climate change. Munich Re was one of the founding members of Dii GmbH in 2009. The initiative is designed to assess the possibility of supplying the MENA region and Europe with energy, using solar and wind power harnessed in the desert of North Africa. The ultimate goal would be to fulfill 15 percent of Europe’s electricity demands by 2050. All this, of course, indicates that Munich Re maintains high standards of sustainability itself. In 2010, the company recycled 65.3 percent of all paper that its employees used. The company’s Munich office has been carbon-neutral since 2009, and it currently is rolling out a plan for all its facilities to be carbon-neutral by 2015.